Thank you for using our answers forum! That's a geat question! The bit rate should always show, no matter what quality SlingPlayer is set to. If it is not showing, I would recommend uninstalling/reinstalling the application. If you do this from the iTunes account you purchased the application from, you will not have to pay for the application again. Also, you only need 1200 kbps to stream in HQ. That being said, either way, you have more than enough bandwidth to stream in and video quality. Below is a link that explains bit rate in more detail.
Hope this helps!
The Sling Moderation Team